Acquisition of First Artist Corp's Events Division

 
TIDMRIVP TIDMFAN 
 
14 February 2011 
 
                         RIVINGTON STREET HOLDINGS PLC 
 
                                  PLUS: RIVP 
 
                           ("RSH" or "the Company") 
 
           Acquisition of First Artist Corporation's Events Division 
 
The Board of Rivington Street Holdings, the PLUS quoted conglomerate, is 
pleased to announce that ExEvents Ltd, a subsidiary of RSV, an Isle of man 
based division of Rivington Street Holdings plc ("RSH") has agreed with First 
Artist Corporation Plc ("First Artist") to acquire its entire Event Management 
Division - The Finishing Touch ("FT"). 
 
HIGHLIGHTS 
 
  * RSV will purchase the entire issued equity share capital of FT for a 
    consideration of GBP101,000 in cash, which was paid on completion on 11 
    February and 50% of the profits attributable to existing FT customers over 
    the next three years. 
 
  * In the year to November 30th 2010 FT generated a pre-tax loss of GBP200,000 
    on sales of GBP2.4 million. RSH believe that as a result of tighter cost 
    management within FT and the synergies creating it by merging it with its 
    own ExEvents and Presentation Matters businesses this transaction will 
    rapidly add value to the enlarged group. 
 
RSH's Chief Executive Officer Tom Winnifrith commented: 
 
"We are delighted with this latest acquisition. FT will be a great addition to 
our growing events division -it has a great track record and a blue-chip 
customer base and the management team of ExEvents is capable and incentivized 
to take this enlarged unit forward rapidly." 
 
   The Directors of the issuer accept responsibility for this announcement. 
 
                                    -ENDS- 
 
Enquiries: 
 
Rivington Street Holdings Plc 
Tom Winnifrith, CEO                   01624 676848 
 
VSA Capital Limited 
Peter Damouni, Charlie Wilson         0203 005 5000 
 
Bishopsgate Communications 
Laura Stevens,Giang Nguyen            020 7562 3350 
 
 
 
END